First ILS structure in Brazil could be Andrina Seguros from IRB RE
The first insurance-linked securities (ILS) structure under Brazil’s regulations for “Letra de Risco de Seguro”, or LRS which translates to Letter of Insurance Risk, could be named Andrina Seguros and sponsored by local reinsurance company IRB RE, according to a report. Brazil has designed its legislative and regulatory framework with domestic market activity first in […]
More Australian pensions deploy to ILS. Rest Super picks Twelve for cat bonds
More Australian pension super funds have begun allocating to insurance-linked securities (ILS), according to Bloomberg, as the publisher names Rest Super and Host Plus as allocating to the space. Artemis has learned that Rest Super has invested with manager Twelve Capital for catastrophe bonds. Rest Super is a pension and retirement super fund with around […]
ILS industry responds to ESMA call for evidence on cat bonds as UCITS eligible assets
The insurance-linked securities (ILS) industry has come together to respond to the European Securities & Markets Authority (ESMA) call for evidence to support a review of the Undertakings for Collective Investment in Transferable Securities (UCITS) Eligible Assets Directive (EAD), highlighting the reasons catastrophe bonds are beneficial assets for investors and suitable assets for UCITS strategies. […]
Cat bonds and sidecars to see biggest increases in demand over next year: Moody’s
Over the next year, reinsurance buyers have expressed a strong preference for catastrophe bonds when it comes to utilising alternative capital, while sidecars are also expected to see much more elevated demand, the latest survey by Moody’s Ratings shows. Each year just in advance of the Monte Carlo Rendez-Vous event, Moody’s Ratings surveys reinsurance buyers […]
African nations see China as reliable partner
The pledge by President Xi Jinping to work with Africa to implement the 10-point partnership action plan to advance modernization has reaffirmed the country’s commitment to Africa, according to experts. Xi made the pledge in his keynote speech at the 2024 Summit of the Forum on China-Africa Cooperation in Beijing on Thursday. The speech also […]
Reinsurance and ILS capital crucial to support multi-transition of global economy: S&P
As the world navigates major challenges, the transitions that are required to do this effectively are going to call on risk capital and the expertise of the global insurance and reinsurance industry, with its capacity, including ILS and alternative sources, seen as a crucial form of financing, according to S&P Global Ratings. Speaking today in […]
Role for cat bonds as climate adaptation financing gap grows: Citigroup
Analysts at Citigroup have highlighted a growing financing gap in climate adaptation efforts, saying that as this gap grows and steps to mitigate climate change remain at a pace considered too slow, there will be a need for increasing amounts of capital and catastrophe bonds are a useful structure that can be used in support. […]
Moody’s turns positive on reinsurance, with deepening alternative capital partnership
Rating agency Moody’s has shifted its outlook on the global reinsurance sector to positive citing the improvement in risk/return dynamics in the market and saying it anticipates continued strong profitability if major losses remain absent, while also saying property reinsurance rates are expected to remain elevated. At the same time, the rating agency highlights the […]
ILS fund index delivers strongest July performance ever
The broad benchmark index for insurance-linked securities (ILS) funds, the Eurekahedge ILS Advisers Index, has reported its strongest July performance on record, with ILS funds averaging 1.37% for the month. After which the year-to-date performance for this ILS fund performance index is now the third-highest on record at this stage of the year and it appears […]
Retro strategy differs for Big Four. Cyber cat bonds could be something they all agree on
While the retrocession strategies of Europe’s Big Four reinsurance companies may differ, the still relatively new retro option of sponsoring cyber catastrophe bonds may prove to be an area of commonality between them. It is AM Best that highlights the differences between the retrocession strategies of the four major European reinsurance giants, Hannover Re, Munich […]